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We are frequently mentioned in international media, and invited to share our thoughts at well-regarded events across the globe. Our companies get extensive coverage.

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Southeast Asian VCs weigh in on how startups can survive COVID-19

KrASIA

When the going gets tough, the tough get going.

Jeffrey Seah, a partner at Quest Ventures, stresses that only the strongest will survive the cull.

“Darwinian thinking underwrites every form of commerce, and in these times the going concern of every startup. As the VC market operating mindset matures with more domain experts and adopts more mainstream business metrics, this Covid market is more than just an academic Black Swan event.

It will become the defining period of bootstrapping, scrum, and hockey-stick-growth for startups that have built their fundamentals well, and conversely the retrograde period for those overvalued yet under-built. They will remember this period as a seminal pivoting moment.”

Seah from Quest Ventures also agrees that this is absolutely not the time for business-as-usual, but it also should not be a hibernation period for startups.

“At Quest Ventures, we continue to evaluate our deal flows and disburse due in investments. Now is not the time for paralysis, when the ecosystem needs the most guidance and support. As past operators, we are working in the trenches with our portfolio companies, to extract as much value from this period of business opportunity, the preservation valuation comes from quality of revenue, rather than cash hoarding.

This is a good fundraising time for direct-to-customer businesses—media, content, delivery, and SaaS services. Their business models are and will be Darwin-validated as the curfews and lockdowns continue to disrupt the society, and resultantly, marketplaces.”

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Who wants to be a venture capitalist?

The Business Times

More ex-entrepreneurs have also entered the venture capital fray, notes Goh Yiping, a partner at Quest Ventures who was previously co-founder of an e-commerce startup.

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Meet 4 VCs who are early adopters of e27 Pro

e27

Quest Ventures is proud to be an early adopter of e27 Pro.

“These four top global and regional VCs are the first to sign up for e27 Pro.

When we quietly launched e27 Pro, our community has been most supportive; offering encouragement and feedback that helped us design e27 Pro into what it is today: a membership programme that is designed to give you actionable insights, exclusive business-building programmes, and tools that enable your company’s success.

We’d like to tell you more about the early adopters of e27 Pro who have helped and are continually helping us make the platform better.”

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东南亚女性投资者:我们才是新生力量

36氪

正值国际妇女节之际,KrASIA 网站采访了东南亚投资公司里几名女性明星合伙人,分享了她们对性别多样性的看法。

KrASIA 调查了34家活跃于东南亚地区的风险投资公司员工名册。调查结果很能说明问题:仅12 家公司的投资团队里有一位或多位女性合伙人。

Quest Ventures 的合伙人 Goh Yiping 认为,人们常常对女性有太过争强好胜的偏见。当别的投资人看到她名片上印着的“合伙人”头衔时,常常会很惊讶。38岁的 Goh Yiping 说:“他们惊讶的原因是我看起来年纪很小——但我其实没那么年轻。主要是在(风险投资公司)中处于管理职位的女性合伙人太少,助长了这种偏见。”

Yiping 在加入 Quest Ventures 之前已经在科技行业工作了二十多年。她之前也成立过几家初创公司,包括在线零售交易聚合网站 All Deals Asia,这家网站在2014年被印尼的 Lippo Group 收购。去年,她被《 Harper’s Bazaar Singapore 》杂志评为“为新加坡科技和数字化领域奠定基础”的40岁以下女性之一。

为什么决定跨行从创始人变成投资者?

Yiping 在接受 KrASIA 的采访时表示:“因为我想知道风险投资这一行业是否适合我。我想成为那种在我还是创始人时就想合作的投资者。”

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In Southeast Asia, women investors are a growing force in the startup space

KrASIA

Several high-profile women from the region’s active investment firms share their thoughts with KrASIA on gender diversity.

KrASIA reviewed the rosters of 34 VC firms that are active in Southeast Asia. The results were telling. Only 12 firms have one or more female partners on their investment teams.

Goh Yiping, a partner at Quest Ventures, also agrees that the bias can surface when women are perceived as being too ambitious. Sometimes, people are surprised to see her “partner” title on her business card. “But mostly because I look young—I’m not that young,” said 38-year-old Yiping. The fact that there are “too few female partners at senior positions [in VC firms] probably helps propagate the stereotype.”

Before joining Quest Ventures in 2015, Yiping had already worked in tech for more than two decades. She previously founded several startups, including All Deals Asia, an online aggregator of retail deals that was acquired by Indonesia’s Lippo Group in 2014. Last year, she was named by Harper’s Bazaar Singapore as one of the city-state’s women aged under 40 who are “paving the way in the tech and digital spheres.”

Why did she decide to cross the line and go from founder to investor? “I wanted to know whether venture capital could be my cup of tea in the future,” Yiping told KrASIA. “I want to become the kind of investor that I would have wanted to work with when I was a founder.”

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The Business Times Logo

Temasek leads ShopBack’s extended US$75m funding round

The Business Times

The latest capital injection brings ShopBack’s total funding since its founding in 2014 to US$113 million. The company is also backed by SoftBank Ventures Asia and counts Singapore-based Qualgro and Quest Ventures among its earlier investors.

A senior executive at Temasek told BT in October last year that the state investment firm has its eye on what it calls “aspiring unicorns” in South-east Asia – companies valued between US$100 million and US$1 billion.

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Қазақстан мен Сингапур бірлескен венчурлік қор құрды

Baiterek

Нұр-Сұлтан қаласында Холдингтің еншілес ұйымы – «QazTech Ventures» АҚ-ның сингапурлық «Quest Ventures Asia Fund II» (QVAF II) венчурлік қорына қатысуды көздейтін, жалпы мөлшері 50 млн. АҚШ долларына тиісті келісім жасалды. Капиталы 10 млн. АҚШ доллары QazTech Ventures қорға «зәкірлік» инвестор ретінде кіреді. Келісім талаптарына сәйкес, бірлесе құрған қор алдағы үш жылда Қазақстан мен Орта Азияның келешегі бар стартап жобаларын қарастырып, қаржыландырады.

Сингапурлық Темаѕек жетекші қаржылық даму институтының еншілес құрылымы Pavilion Capital құрылған қордың зәкірлік инвесторларының бірі болып табылады. Pavilion Capital – бұл АҚШ пен Азиядағы қарқынды дамып келе жатқан жобаларға стратегиялық қолдау көрсететін тікелей және венчурлік инвестициялар компаниясы. Қазақстан тарихында алғаш рет «Temasek» қазақстандық жобаларға инвестиция салмақшы.

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Қазақстан мен Сингапур бірлескен венчурлік қор құрды

AKIpress

«Бәйтерек» холдингі Қазақстанның стартап жобаларын дамыту үшін шетелдік инвестицияларды тарту мақсатында сингапурлық бизнеспен ынтымақтастықты кеңейтуде.

Нұр-Сұлтан қаласында Холдингтің еншілес ұйымы – «QazTech Ventures» АҚ-ның сингапурлық «Quest Ventures Asia Fund II» (QVAF II) венчурлік қорына қатысуды көздейтін, жалпы мөлшері 50 млн. АҚШ долларына тиісті келісім жасалды. Капиталы 10 млн. АҚШ доллары QazTech Ventures қорға «зәкірлік» инвестор ретінде кіреді. Келісім талаптарына сәйкес, бірлесе құрған қор алдағы үш жылда Қазақстан мен Орта Азияның келешегі бар стартап жобаларын қарастырып, қаржыландырады.

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Kazakhstan and Singapore established joint venture fund

Strategy 2050

QazTech Ventures with a capital of $ 10 million will enter this fund as an anchor investor. … the jointly created fund will consider and finance promising startup projects in Kazakhstan and Central Asia in the next three years.

One of the anchor investors of the established fund is Pavilion Capital, a subsidiary of Temasek, Singapore’s leading financial development institution.

“Collaboration with the leading Singapore fund and the opening of a joint acceleration program is an important step in building the country’s venture ecosystem and bringing domestic startups to the global market. Today, the venture market in Southeast Asia has high potential and is developing at a rapid pace. We expect that in the near future projects funded by this Fund will be able to be competitive both in Kazakhstan and abroad, in particular in Southeast Asia”, Chairman of the Board of Directors of QazTech Ventures JSC, Managing Director of “Baiterek” Holding Adil Nurgozhin said.

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SG Budget adds COVID-19 novel coronavirus outbreak measures

Deal Street Asia

Quest Ventures provided its opinion to Deal Street Asia on the measures taken by the government to address the COVID-19 novel coronavirus outbreak.

“Quest Ventures, through a spokesperson, said the virus measures will soothe the right pain points.

No other country we know of in the world besides China are actively ensuring the long-term viability of businesses and the broader economy from both operating expenditure and staffing angles,” the spokesperson said.”

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Private investors eye S$300m additional ammo to fund startups

The Business Times

Quest Ventures provided its opinion to The Business Times on the Startup SG Equity and the Angel Investors Tax Deduction scheme in the Singapore Budget 2020.

On the S$300 million that will be added to the Startup SG Equity scheme: “Late-stage funding is hard to come by for deep tech players, said a spokeman for venture firm Quest Ventures. “The Series B gap is real and we expect this to grow… as the commercialisation value of these deep tech startups is difficult to ascertain,” he said.

On the lapse of the Angel Investors Tax Deduction scheme, “The Quest Ventures spokesman similarly said that he has rarely seen the AITD scheme tapped on by angel investors. For instance, Quest’s managing partner James Tan, who was an angel investor of startups Carousell and ShopBack, also did not tap the scheme, the spokesman said.”

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Funds don’t come easy for Singapore’s deep tech startups

Deal Street Asia

Quest Ventures provided its opinion to Deal Street Asia on the deep tech ecosystem of Singapore and its current state of investment.

“The deep tech top-up comes at an important time when the current batch of deep tech startups are mostly struggling to raise funding,” said Quest Ventures through a spokesperson. Quest focuses on early-stage digital commerce investments in China and Southeast Asia, and its mandate covers deep tech.

The Quest spokesperson said that while access to capital was important for deep tech startups in Singapore, the bigger challenge lies in growing the ecosystem as a whole.

“Despite the resources spent, Singapore as an ecosystem is not as well-known as other cities such as Silicon Valley, Israel or Japan as deep tech hubs,” Quest said. “It is time to relook at the deep tech sector and work with different parties to push this forward.””

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How My MBA Helped Me Launch My Venture Capital Company

BusinessBecause

Quest Ventures’ Managing Partner James Tan was interviewed as an alumni of the Tsinghua-MIT Global MBA Program.

“James Tan founded Quest Ventures, a multimillion dollar venture capital firm focused on tech startups in Asia. He says his MBA helped him break into the Chinese market.

James credits enrolling on the Tsinghua-MIT Global MBA Program, a collaboration between Tsinghua University School of Economics and Management (Tsinghua SEM) in Beijing and MIT Sloan, for helping him to grow a successful business and expanding into the lucrative Chinese market.

James recognized how many Chinese startup originally mimicked business ideas from the US. More recently, companies like Weibo (China’s Twitter) and DiDi (China’s Uber) use US models as a starting point, but are bespoke to China.

Similarly, James looked to US venture capital firm Sequoia—which has invested in Apple, Stripe, and Airbnb—as an example of the long-term success that he wanted Quest to emulate. But crucially, it needed to have an Asia focus.

“I wanted to build a very strong VC firm by this region, for this region,” says James.”

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তরুণ উদ্যোক্তাদের জন্য ‘স্টার্টআপ কিংডম’ বইয়ের মোড়ক উন্মোচন

Daily Ittefaq

Quest Ventures’ James Tan unveiled book on Bangladesh startups co-authored by Quest Ventures’ mentor Shameem Ahsan.

“পেগাসাস টেক ভেঞ্চারস এর জেনারেল পার্টনার ও প্রধান নির্বাহী কর্মকর্তা ড. আনিস উজ্জামান এবং ভেঞ্চার ক্যাপিটাল অ্যান্ড প্রাইভেট ইক্যুইটি অ্যাসোসিয়েশন অব বাংলাদেশ (ভিসিপিয়াব) ও ইজেনারেশনের চেয়ারম্যান শামীম আহসান লিখিত স্টার্টআপ বিষয়ক বই ‘স্টার্টআপ কিংডম’ এর উন্মোচন করা হয়েছে।

শনিবার (৮ ফেব্রুয়ারি ২০২০) রাজধানীর রেডিসন ব্লু ওয়াটার গার্ডেনে আয়োজিত এক অনুষ্ঠানে বইটির মোড়ক উন্মোচন করা হয়। গাইড লাইনমূলক বইটিতে ছয়টি অধ্যায়ে প্রচুর রিসোর্স রয়েছে, যা স্টার্টআপ প্রতিষ্ঠাতাদের সম্ভাব্য বাজারগুলোতে তার ব্যবসাকে প্রতিষ্ঠিত করতে সুযোগ করে দেবে।

বইটির উন্মোচন করেন পররাষ্ট্র মন্ত্রী ড. এ কে আবদুল মোমেন ও আইসিটি প্রতিমন্ত্রী জুনাইদ আহমেদ পলক। এসময় উপস্থিত ছিলেন কুয়েস্ট ভেঞ্চারস এর ব্যবস্থাপনা অংশীদার জেমস টান, ডেফটা পার্টনারস এর প্রিন্সিপাল মাসা ইসোনো, উইমেন ইন টেক এশিয়ার প্রতিষ্ঠাতা জেনি রিসকু, ওপেনস্পেস ভেঞ্চারস এর পরিচালক ইয়ান সিকোরা, আইআইএম এর গভর্নেন্স বোর্ড সদস্য ড. সৌগত রায়, আইএফসির কান্ট্রি ম্যানেজার ওয়েন্ডি ওয়ার্নার প্রমুখ।”

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স্টার্টআপ বিষয়ক বই ‘স্টার্টআপ কিংডম’ উন্মোচিত

Jugantor

Quest Ventures’ James Tan unveiled book on Bangladesh startups co-authored by Quest Ventures’ mentor Shameem Ahsan.

“পেগাসাস টেক ভেঞ্চারস এর জেনারেল পার্টনার ও প্রধান নির্বাহী কর্মকর্তা ড. আনিস উজ্জামান এবং ভেঞ্চার ক্যাপিটাল অ্যান্ড প্রাইভেট ইক্যুইটি অ্যাসোসিয়েশন অব বাংলাদেশ (ভিসিপিয়াব) ও ই-জেনারেশনের চেয়ারম্যান শামীম আহসান লিখিত স্টার্টআপ বিষয়ক বই ‘স্টার্টআপ কিংডম’ এর উন্মোচন করা হয়েছে।

শনিবার রাজধানীর রেডিসন ব্লু ওয়াটার গার্ডেনে আয়োজিত এক অনুষ্ঠানে বইটি উন্মোচন করা হয়। গাইডলাইনমূলক বইটিতে ছয়টি অধ্যায়ে প্রচুর রিসোর্স রয়েছে, যা স্টার্টআপ প্রতিষ্ঠাতাদের সম্ভাব্য বাজারগুলোতে তার ব্যবসাকে প্রতিষ্ঠিত করতে সুযোগ করে দেবে।

বইটির উন্মোচন করেন পররাষ্ট্র মন্ত্রী ড. এ কে আবদুল মোমেন ও আইসিটি প্রতিমন্ত্রী জুনাইদ আহমেদ পলক। এসময় উপস্থিত ছিলেন কুয়েস্ট ভেঞ্চারস এর ব্যবস্থাপনা অংশীদার জেমস টান, ডেফটা পার্টনারস এর প্রিন্সিপাল মাসা ইসোনো, উইমেন ইন টেক এশিয়ার প্রতিষ্ঠাতা জেনি রিসকু, ওপেনস্পেস ভেঞ্চারস এর পরিচালক ইয়ান সিকোরা, আইআইএম এর গভর্নেন্স বোর্ড সদস্য ড. সৌগত রায়, আইএফসির কান্ট্রি ম্যানেজার ওয়েন্ডি ওয়ার্নার প্রমুখ।”

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‘Startup Kingdom’, a comprehensive handbook for startup biz

The Financial Express

Quest Ventures’ James Tan unveiled book on Bangladesh startups co-authored by Quest Ventures’ mentor Shameem Ahsan.

“‘Startup Kingdom’, authored by Dr. Anis Uzzaman, General Partner and CEO of Pegasus Tech Ventures, and Shameem Ahsan, Chairman, Venture Capital and Private Equity Association of Bangladesh and eGeneration, was unveiled at an event held in Radisson Blue Water Garden, Dhaka recently.

The book is a comprehensive handbook for startup founders in South Asia and Global startup ecosystem, said a statement. It features six chapters and comes with a range of resources that can help startup founders seize the opportunities in their areas of businesses.

The book was unveiled by Foreign Minister Dr. A K Abdul Momen MP, ICT Sate Minister Zunaid Ahmed Palak, James Tan, Managing Partner, Quest Ventures; Masa Isono, Principal, DEFTA Partners; Jenni Risku, Founder, Women in Tech Asia; Ian Sikora, Director, Openspace Ventures; Prof. Dr. Sougata Ray, Member of Board of Governance IIM, Calcutta and Wendy Werner, Country Manager, IFC; Mahrukh Mohiuddin, Director, University Press Limited were present among others during the launching ceremony of the book.”

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No alternative to skilled manpower to face 4IR: Salman

The Financial Express

Salman F Rahman, Adviser to the Prime Minister of Bangladesh on Private Industry and Investment, met with international investors who were in Bangladesh to judge the finals of the Startup World Cup.

“Prime Minister’s Private Industry and Investment Adviser Salman F Rahman on Saturday said there is no option but to create skilled manpower in Bangladesh to face the 4th Industrial Revolution (4IR).

He made the remark while addressing the inaugural ceremony of the Startup World Cup 2020, a global startup pitch competition with 30+ regional events across the six continents, at a city hotel, reports UNB.

The finalists pitched their business in front of live audience and jury at the gala finale held in the capital.

The winner was selected by a panel of investor judges, including James Tan, Managing Partner, Quest Ventures.”

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Vision 2025 launched to create startup and VC-friendly ecosystem in BD

The Financial Express

Quest Ventures’ mentor Shameem Ahsan launches Vision 2025 for Bangladesh startup ecosystem witnessed by Quest Ventures’ James Tan and others.

“Vision 2025 to create a startup and VC-friendly ecosystem has been launched at the Bangladesh regional event of the biggest startup competition in the world Startup World Cup.

It has been targeted that within 2025, Bangladesh startup ecosystem will develop seven times accomplishing 4 objectives of the vision. In the present time there is one and only USD 1.0 billion dollar company (Unicorn) and the goal is to have five companies with billion-dollar valuation or Unicorn in Bangladesh by 2025. The current Startup ecosystem of the country is valued at 1.45 billion with a potential to reach 10-billion-dollar valuation. These startups have created one hundred and fifty thousand jobs and seven hundred indirect jobs currently. The vision envisions taking direct employment to 1.0 million and indirect employment to 5.0 million by 2025.

Mr. Shameem Ahsan, Chairman, Venture Capital and Private Equity Association of Bangladesh (VCPEAB) and eGeneration and General Partner, Pegasus Tech Ventures presented the mission at the session titled “Venture Capital for Double Digit Growth” during the inauguration ceremony of Startup World Cup, 2020 grand finale event day held at the Radisson Blu Water Garden, Dhaka, in front of private sector adviser to prime minister. Along with the vision he has placed 11 points recommendation to achieve the targets.”

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Bangladesh entrepreneurs are supported at many levels by the private and public sectors

RTV News

In Dhaka, Bangladesh, Mr James Tan, Managing Partner at Quest Ventures, joins Mr A H M Mustafa Kamal, Minister of Finance of the People’s Republic of Bangladesh, and other distinguished guests on a panel discussion on venture capital and startups for double digit growth.

James Tan said, “Singapore can provide a useful blueprint for Bangladesh to adapt to its local environment. With angel networks such as The Angel Network and Bangladesh Angels; accelerators such as the Grameenphone Accelerator; IT talent from institutions of higher learning such as BUET; and industry-wide trade associations such as the Venture Capital and Private Equity Association of Bangladesh, Bangladesh entrepreneurs are supported at many levels by the private and public sectors.”

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Vision 2025 launched to create $10b startup market in Bangladesh

The Business Standard

Quest Ventures’ James Tan witnessed launch of Vision 2025 for the Bangladesh ICT sector.

“Vision 2025 to create a startup and Venture Capital friendly ecosystem has been launched at the Bangladesh regional event of Startup World Cup, the biggest startup competition in the world, on Saturday, targeting Bangladesh startup ecosystem that will develop seven times by accomplishing the objectives of the vision, said a press release.

At present, there is one and only $1 billion Dollar company (Unicorn) and the goal is to have five companies with billion-dollar valuation or Unicorn in Bangladesh by 2025.

The current startup ecosystem of the country is valued at $1.45 billion with the potential to reach a 10-billion-dollar valuation. These startups have created 150000 jobs and 700 indirect jobs recently.

The vision foresees taking direct employment to 1 million and indirect employment to 5 million by 2025.”

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Here’s what you missed at BASE Conference 2020 – Johor’s inaugural business and tech conference

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Russ Neu, venture partner for impact, was on the opening panel at BASE Conference 2020.

“The local startups now boast a combined valuation of RM467million (USD115 million), with more than 400 jobs being created over the past 4 years, contributing an average of RM160 million per year to the local state GDP. There are also a staggering number of 46 coworking spaces, now, in Iskandar, Malaysia, combining for a total area of 300,000 square footage. These figures were all taken from the Johor Startup Ecosystem Report which was officially published on 15 Jan 2019, in conjunction with IskandarSpace’s first year anniversary.

Russ Neu, Venture Partner, Impact, Quest Ventures believes that “A lot of new technology and innovation in the coming decade will be addressing the UN’s SDGs”.”

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Baiterek Holding creates venture capital fund, pursues long-term construction projects in 2020

The Astana Times

“The signing of the package of documents, we believe, will certainly lead to positive results. In particular, investments of a leading venture company in Kazakh projects will increase the attractiveness of our country’s venture market and attract other key players. In addition, Kazakh projects will have the opportunity of international acceleration and access to advanced competencies and experience,” said Arifkhanov, reported the press service.

Later QazTech Ventures also signed a memorandum with Quest Ventures, a leading venture capital fund in Singapore, as well as a tripartite memorandum with the National Agency for Innovation of Thailand and Baiterek Holding.

“The countries of Southeast Asia were able to make a significant breakthrough in the development of their economies thanks to the recently adopted and successfully implemented strategy for the development of innovations and venture financing. Over the past five years, Asia’s VC (venture capital) indicators have increased by almost 14 times,” the Baiterek press service said.

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No more ‘burn, baby, burn’: VCs expect more caution in 2020

The Business Times

Jeffrey Seah, a partner at Quest Ventures, similarly thinks that 2020 may bring more mindfulness and perhaps even more rational valuations.

“There is a more mature and mainstream lens in evaluating venture ideas as going concerns, versus the past cavalier “spray and pray” approaches to drive coverage and seize market share.”

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Singaporeans in Hong Kong and mainland China: how the ‘third wing’ of the Lion City’s economy took flight

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The South China Morning Post interviewed Quest Ventures’ James Tan for his perspective on how Singaporean firms have, over the decades, moved from a ‘first wing’ – the domestic economy – to a second, namely regional expansion and how a new group of entrepreneurs is assimilating into other economies and building localised businesses rather than brandishing the city state’s brand.

“Drawn to China by the simple desire to fish in “a bigger pond”, he founded online daily-deals site 55tuan.com with four other schoolmates in late 2009, after graduating from Beijing’s prestigious Tsinghua University.

The firm would go on to become the first Chinese e-commerce firm listed on the Nasdaq index in the United States, with a presence in more than 200 cities in China today.

“It may be hard to believe now in an age of Grab, Airbnb and Meetup, but gathering a group of people who do not know one another and who want to do something similar together in 2009 was difficult,” Tan said, noting that 55tuan.com took off only after group discounts at restaurants were built into the service.

Being at the heart of the massive Chinese market meant Tan and his team had to deal with swarms of competitors, including many scam companies.

“China back then was not a nice place to kick new business ideas off the ground. People would take your idea and run with it. Even up till five years ago, there was this term called C2C, or Copy to China. Everything you can find in Silicon Valley, you’d be able to find a copycat version in China.”

But a lot had changed since, he said – including China’s building up of its own technological muscle.

“The Chinese are no longer just copycats. They’ve taken ideas and made them even better,” Tan said. “It’s not just Alibaba or WeChat. Just look at ride-sharing apps like Didi Chuxing and drone manufacturers like DJI. There’re also social media apps like TikTok – who knew it would become this big? The US is no longer the world’s only source of inspiration.”

Tan founded venture capital firm Quest Ventures in 2011 to focus on the untapped potential of Southeast Asian start-ups, instead of those trying to break into the Chinese market.

“Five years ago, it would have made sense to focus on start-ups entering China, but not any more,” he said. “Now you also have many haigui [people who return to China after studying abroad]. Like everyone else, they can see that opportunities no longer just exist in the US, but right there in their home country, in China.””

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